“20-20” English Question | Crack RBI Grade B 2018 Day-169

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“20-20” English Questions | Crack RBI Grade B 2018 (Day-169)

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Direction (1-10): In a passage given below there are 10 blanks, each followed by a word given in bold. Every blank has four alternative words given in options (a), (b), (c) and (d). You have to choose which word will best suit to the respective blank. Choose (e) as your answer if the word given in the bold after the blank is your answer i.e. “No change requires”.

Just four weeks after negotiations began, Argentina’s government declared that it had secured a three-year credit line with the IMF worth $50bn. For ordinary Argentines, many of whom blame the IMF for the country’s disastrous $82bn default in 2001, the announcement carries echoes of a painful past. In April the yield on American ten-year Treasury bonds rose to 3%. That _ (1) _ [causing] a widespread sell-off in emerging markets. The currencies of Turkey, Russia and Mexico were all _ (2) _ [mistreat]; Argentina’s was particularly badly hit. Investors were _ (3) _ [scaring]by the country’s large fiscal and current-account deficits, and a rapidly growing pile of foreign-currency debt. They also doubted the independence of the central bank, which in January had cut interest rates at the behest of the government, despite inflation of 21%. As investors pulled their money out of Argentine assets, the peso _ (4) _ [sinks] by one-fifth against the dollar. The details of the standby arrangement should help soothe investors’ nerves. The first tranche of credit, worth $15bn, will be _ (5) _ [spend] shortly after the IMF’s executive board approves the deal. Further disbursements will be at the discretion of Argentina’s government. The arrangement reduces the _ (6) _ [beliefs] on more expensive and less stable private market sources. So far, so generous. The government must _ (7) _ [removed] its primary deficit by 2020, and run an overall surplus in 2021. While the fiscal targets have been tightened, inflation targets have been loosened. With markets expecting inflation of 27% this year, the central bank has been _ (8) _ [lead] to abandon its wildly optimistic target of 15% for 2018 and will instead aim for 17% in 2019. The central bank will also stop its partial financing of the fiscal deficit and will have its independence enshrined in law. The deal obliges Mr. Macri to inflict further austerity on Argentines. After taking office in 2015 he sought to repair gradually the economic imbalances_ (9) _ [granting] by his predecessor. That required his government to borrow billions of dollars on international credit markets to plug the budget shortfall. That strategy came to an abrupt end in April, when interest rates rose and investors lost patience with the slow pace of his reforms. Argentines are weary of austerity and are unlikely to thank Mr. Macri for providing them with more of it, particularly at the behest of the IMF. In 2001 the IMF offered loans in exchange for commitments to cut spending. When the government _ (10) _ [break], the fund pulled the plug and the country defaulted.

1)

a) Impelling

b) Exhorting

c) Prompted

d) Forefended

e) No change required

2)

a) Lambaste

b) Battered

c) Contrived

d) Mutilate

e) No change required

3)

a) Abashing

b) Startling

c) Sedated

d) Spooked

e) No change required

4)

a) Plunged

b) Submerses

c) Vaulted

d) Descends

e) No change required

5)

a) Economized

b) Dispense

c) Proffer

d) Disbursed

e) No change required

6)

a) Autarchy

b) Reliance

c) Profligacy

d) Rampancy

e) No change required

7)

a) Expunged

b) Deracinated

c) Eradicate

d) Forge

e) No change required

8)

a) Inveigle

b) Persuaded

c) Derailed

d) Actuate

e) No change required

9)

a) Bequeathed

b) Endowing

c) Arrogated

d) Legating

e) No change required

10)

a) Revokes

b) Welshes

c) Repudiating

d) Reneged

e) No change required

Direction (11-15): The passage has been divided into several sentences, denoted by A), B), C), D), E), F) and G). Read the sentence and arrange them in a manner that the sentences make a meaningful paragraph.

A) India has five different GST rates 0, 5%, 12%, 18%, and 28%, according to the World Bank India Development Update 2018, of the 115 countries with GST regime, 40 countries use a single rate and 28 countries use two rates, India keeps rather poor company with Italy, Ghana, Pakistan, and Luxemburg countries with four or more rates.

B) As the world around us grows in complexity, there is a tendency for governments to think we need more detailed rules and systems to regulate the dynamic nature of our economy and society, counter-intuitively, the greater the complexity, the more we need simple rules to guide us through the maze of choices.

C) If one goes to the GST council website, there are a few hundred notifications, more than one for each day in existence and that is just the Central government notifications, each state has its own set of notifications.

D) As we approach the first anniversary of the goods and services tax reform, it is a good time to take stock of the problems in the system, introducing GST in India was no small feat but it has become increasingly clear that the system is too complicated and has led to a lot of confusion for taxpayers.

E) There is a constant process of raising disputes and questions, and the government trying to clarify classifications and solve problems, then there are the legal challenges in courts and this is only about the current stock of goods and services, it does not account for new products and services that will enter the market in the future.

F) A single GST for all goods and services needs no classification system. Every individual and firm simply pays the same rate, and the government and the legal system can use valuable time and resources resolving other problems.

G) The finance ministry and the GST council are asking the wrong question, the point is not how best to classify each good, but to realize the impossibility of successfully classifying each good, therefore it is best to do away with the need to classify each good.

11) Which sentence should be sixth in the paragraph?

a) D

b) C

c) A

d) F

e) B

12) Which sentence should be third in the paragraph?

a) B

b) D

c) E

d) A

e) C

13) Which sentence should be fifth in the paragraph?

a) E

b) G

c) C

d) D

e) F

14) Which sentence should be last in the paragraph?

a) E

b) D

c) B

d) A

e) F

15) Which sentence should be fourth in the paragraph?

a) E

b) F

c) D

d) C

e) B

Direction (16-20): In each of the questions given below a sentence is given which is then divided into five parts out of which one bold part is correct. There are no errors in three out of four remaining parts and therefore only one of the parts other than the bold one is incorrect. You must choose the grammatically incorrect part as your answer. Choose e if you find out there is no error.

16) The historical record of such groundbreaking a)/get-togethers is mixed, some led to diplomatic breakthroughs; b)/others failed to forestall war and in many cases c)/, historian eventual verdict was utterly d)/ different from that of observers at the time e)/

a) c

b) d

c) b

d) e

e) No error

17) Consider, the fact that thermal power caters to most of a)/India’s electricity needs at present and a limited number of b)/plants are being built, the country may end c)/up in a tight supply situation in three-four years d)/if battery storage does not become cost-effective e)/

a) b

b) c

c) d

d) a

e) No error

18) SEBI has set up a panel that will look at ways to a)/ease such listings, the group will review b)/the present institutional traded platform framework c)/in the current context as well as identify d)/areas, if any, which require further changes e)/

a) c

b) b

c) a

d) e

e) No error

19) Renewable energy may have taken some of the wind a)/out of the sails to the thermal power sector b)/, but if the latest data points are anything to c)/go by, thermal power is beginning d)/ to see the glimmer of a recovery e)/

a) c

b) e

c) a

d) b

e) No error

20) Many companies in the information technology and a)/ IT-enable services space are now struggling to achieve b)/ this objective through outmoded cost-arbitrage c)/based business models, some of them, d)/unable to keep pace with innovation, are now asking for protection e)/

a) b

b) d

c) e

d) c

e) No error

Answers:

Direction (1-10)

1) Answer: c) according to the sentence prompted will be used as it means to cause or bring about an action

2) Answer: b) according to the sentence battered will be used as it means to strike or damage

3) Answer: d) according to the sentence spooked will be used as it means frighten or unnerve

4) Answer: a) according to the sentence plunged will be used as it means to go down or fall fast

5) Answer: d) according to the sentence disbursed will be used as it means to pay out money from a fund

6) Answer: b) according to the sentence reliance will be used as it means dependence on or trust in someone or something

7) Answer: c) according to the sentence eradicate will be used as it means to put an end to something

8) Answer: b) according to the sentence persuaded will be used as it means to cause someone to do something

9) Answer: a) according to the sentence bequeathed will be used as it means to pass something on to someone else

10) Answer: d) according to the sentence reneged will be used as it means to go back on one’s word

Direction (11-15)

The correct order of sentence after rearrangement is DACEGFB

D) As we approach the first anniversary of the goods and services tax reform, it is a good time to take stock of the problems in the system, introducing GST in India was no small feat but it has become increasingly clear that the system is too complicated and has led to a lot of confusion for taxpayers.

A) India has five different GST rates 0, 5%, 12%, 18%, and 28%, according to the World Bank India Development Update 2018, of the 115 countries with GST regime, 40 countries use a single rate and 28 countries use two rates, India keeps rather poor company with Italy, Ghana, Pakistan, and Luxemburg countries with four or more rates.

C) If one goes to the GST council website, there are a few hundred notifications, more than one for each day in existence and that is just the Central government notifications, each state has its own set of notifications.

E) There is a constant process of raising disputes and questions, and the government trying to clarify classifications and solve problems, then there are the legal challenges in courts and this is only about the current stock of goods and services, it does not account for new products and services that will enter the market in the future.

G) The finance ministry and the GST council are asking the wrong question, the point is not how best to classify each good, but to realize the impossibility of successfully classifying each good, therefore it is best to do away with the need to classify each good.

F) A single GST for all goods and services needs no classification system. Every individual and firm simply pays the same rate, and the government and the legal system can use valuable time and resources resolving other problems.

B) As the world around us grows in complexity, there is a tendency for governments to think we need more detailed rules and systems to regulate the dynamic nature of our economy and society, counter-intuitively, the greater the complexity, the more we need simple rules to guide us through the maze of choices.

The passage is about the goods and services tax. According to the passage it has been one year since goods and services tax has been implemented so its time to look at the big picture. Introduction of GST in India was no small feat and also the system is too complex and has led to a lot doubts for taxpayers. Some blame the government for not doing a good enough job of detailing and specifying various classifications. There are nonstop dispute and that are raising while the government is trying to clarify classifications and solve problems. The major issue relies on the classification of the goods and services tax. So the government must ascertain that it is impossible to successfully divide each good, therefore it is best to do away with the need to arrange each good.

11) Answer: d)

12) Answer: e)

13) Answer: b)

14) Answer: c)

15) Answer: a)

Direction (16-20)

16) Answer: b)

In part d in place of historian it should be historians’

17) Answer: d)

In part a in place of consider it should be considering

18) Answer: a)

In part c in place of traded it should be trading

19) Answer: d)

In part b in place of to it should be of

20) Answer: a)

In part b in place of enable it should be enabled

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Topic Daily Publishing Time
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Quantitative Aptitude “20-20” 11.00 AM
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General Awareness “20-20” 1.00 PM
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Reasoning Puzzles & Seating 4.00 PM
Daily Current Affairs Updates 5.00 PM
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Reasoning Ability “20-20” 7.00 PM
English Language (New Pattern Questions) 8.00 PM

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